Makmur Berkah Amanda Pt (AMAN) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Makmur Berkah Amanda Pt IDR 141, price IDR 216, upside -34.9%, quality 43 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 84.24 IDR – 991.07 IDR · the 216.00 IDR price screens above the 140.61 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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PT Makmur Berkah Amanda Tbk, together with its subsidiaries, operates as a real estate developer in Indonesia. It operates through Real Estate - Warehouse, Real Estate - Rent, Real Estate - Land, and Hospitality segments. The company's development portfolio comprises residential, warehouse, and commercial properties.
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PT Makmur Berkah Amanda Tbk, together with its subsidiaries, operates as a real estate developer in Indonesia. It operates through Real Estate - Warehouse, Real Estate - Rent, Real Estate - Land, and Hospitality segments. The company's development portfolio comprises residential, warehouse, and commercial properties. It also engages in the rental and sale of warehouses; sale of developed land; and operation of hotels. The company was formerly known as PT Sidomaju Industri Estate. The company was founded in 1996 and is headquartered in Jakarta Barat, Indonesia. PT Makmur Berkah Amanda Tbk operates as a subsidiary of Pt Griya Prima Amanda.
Stock analysis
Makmur Berkah Amanda Pt (AMAN) currently trades at 216.00 IDR, while our model-based Fair Value estimate is 140.61 IDR, implying the stock looks roughly 53.6% overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 252.04 IDR per share, and 4 of the 7 models we run sit above the 216.00 IDR price.
Bear case: the Asset-Based group reads lowest at 141.69 IDR, and 3 of the 7 models stay below the price. Evidence for this calculation is low.
Quality & growth
The Quality Score stands at 43/100 (below-average quality), in the Real Estate sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Makmur Berkah Amanda Pt reported revenue of 235B IDR in FY2025 versus 101B IDR in FY2021, a compound +23.6%/yr. Reported net income was 57.4B IDR in FY2025, compounding +14.4%/yr from FY2021.
Key figures
Market cap 999B IDR (≈ $55.9M) · P/E ratio 18.7 · P/S ratio 4.57 · EPS (TTM) 11.56 IDR · Dividend yield 0.4% · Net margin 24.5% · Return on equity 5.9% · Return on assets (EBIT) 5.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 43% below its 52-week high and 64% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at 54% fair-value upside, at −35%, AMAN screens richer than that median.
Fair Value models
Bear 140.61 IDRFair Value 140.61 IDRBull 140.61 IDR
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (8.49 IDR per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+14.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+19.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+21.3%
Start year 2020 (pandemic)
Revenue growth 9 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.1%
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What shareholders gained per year (last 5 years), in IDR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in IDR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+24.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+23.7%
Dividend (yield on the price)0.4%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.24% vs −6%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.23% → 32%
Compare Makmur Berkah Amanda Pt with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Real Estate - Development · 577 stocks
Beats the industry median on 4/13 measures
Overall it trails its industry peers.
Valuation
Quality Score44 · Below median
Fair Value upside−35% · Below median
Profitability
Return on equity (TTM)6% · Above median
Return on assets3% · Top 25%
Net margin (TTM)20% · Above median
Operating margin (TTM)34% · Top 25%
Growth and dividend
Revenue growth−10% · Below median
Dividend yield (TTM)0.4% · Bottom 25%
Balance sheet
Debt / equity0.37× · Above median
Valuation Multiplesvs Real Estate - Development median · lower = cheaper
P/E (TTM)18.7× · Pricier than median
P/B1.22× · Priciest 25%
P/S (TTM)4.41× · Priciest 25%
EV/EBITDA12.7× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 49
FUTURE (revenue growth)0· sector 0
PAST (return on equity)23· sector 12
HEALTH (low debt)82· sector 83
DIVIDEND (yield)8· sector 56
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Makmur Berkah Amanda Pt (AMAN) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 140.61 IDR versus a price of 216.00 IDR, about −35% upside (overvalued).
What is the fair value of AMAN?
Our model-based fair value for Makmur Berkah Amanda Pt is 140.61 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 216.00 IDR.
What is the quality score of AMAN?
Makmur Berkah Amanda Pt has a Quality Score of 43/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Makmur Berkah Amanda Pt (AMAN)?
Our model-based price target is the fair value of 140.61 IDR (as of Sep 24, 2026) from 7 valuation models. It is a calculation from audited fundamentals, not an analyst target.
What is the Makmur Berkah Amanda Pt stock forecast for 2026?
Our models put fair value at 140.61 IDR, about −35% upside versus a price of 216.00 IDR (overvalued). The calculation is refreshed regularly with new filings.
What is the revenue of Makmur Berkah Amanda Pt (AMAN)?
Makmur Berkah Amanda Pt reported trailing-twelve-month revenue of about 227B IDR (latest available figure, as of Sep 24, 2026).
Does Makmur Berkah Amanda Pt pay a dividend?
Makmur Berkah Amanda Pt currently shows a dividend yield of about 0.39% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Makmur Berkah Amanda Pt (AMAN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Makmur Berkah Amanda Pt it is 140.61 IDR per share (as of Sep 24, 2026), against a price of 216.00 IDR. It is the blended result of 7 valuation models (cash flow, earnings, asset, dividend).
Is Makmur Berkah Amanda Pt stock overvalued or undervalued in 2026?
As of Sep 24, 2026, AMAN trades above its calculated fair value: price 216.00 IDR, fair value 140.61 IDR, a gap of about −35% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of AMAN?
No. The price is what the market pays today (216.00 IDR); the fair value is what the company's own numbers justify (140.61 IDR). For Makmur Berkah Amanda Pt the two are 75.39 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Makmur Berkah Amanda Pt worth?
The market values Makmur Berkah Amanda Pt at about 999B IDR (market capitalisation, as of Sep 24, 2026). Per share that is 216.00 IDR; our models calculate a fair value of 140.61 IDR per share.
What is the P/E ratio of AMAN?
Makmur Berkah Amanda Pt trades at a price-to-earnings ratio of 18.7 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 140.61 IDR is built from several models across several years. Other multiples: P/B 1.2, P/S 4.4, EV/EBITDA 12.7.
How solid is the balance sheet of Makmur Berkah Amanda Pt (AMAN)?
Balance-sheet figures for Makmur Berkah Amanda Pt (as of Sep 24, 2026): return on equity 5.9%, debt of 0.37 per unit of equity. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is AMAN from its 52-week high?
Makmur Berkah Amanda Pt trades at 216.00 IDR, about 43% below its 52-week high of 380.00 IDR and 64% above the low of 132.00 IDR (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 140.61 IDR is for.
Which stocks are comparable to Makmur Berkah Amanda Pt?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, China Resources Land Limited, Vinhomes Joint Stock Company, CK Asset Holdings, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Makmur Berkah Amanda Pt stock attractive at the current price?
The data as of Sep 24, 2026: price 216.00 IDR, calculated fair value 140.61 IDR (−35%), Quality Score 43/100, from 7 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of AMAN calculated?
We run Makmur Berkah Amanda Pt through 7 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 140.61 IDR, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0 % above its aggregate fair value. Makmur Berkah Amanda Pt itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Makmur Berkah Amanda Pt (AMAN)?
The closing price on Sep 24, 2026 was 216.00 IDR. Our model-based fair value is 140.61 IDR, about −35% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Makmur Berkah Amanda Pt right now?
The price sits above even our optimistic bull case (140.61 IDR). The favourable scenario is already priced in. Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Makmur Berkah Amanda Pt
How large is the market capitalisation of Makmur Berkah Amanda Pt (AMAN)?
The market capitalisation of Makmur Berkah Amanda Pt is 999B IDR (≈ $55.9M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Makmur Berkah Amanda Pt (AMAN)?
The price-to-sales ratio of Makmur Berkah Amanda Pt is 4.57 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Makmur Berkah Amanda Pt (AMAN)?
Earnings per share at Makmur Berkah Amanda Pt are 11.56 IDR (price ÷ EPS = P/E 18.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Makmur Berkah Amanda Pt (AMAN)?
The dividend yield of Makmur Berkah Amanda Pt is 0.4% (payout 7.2%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Makmur Berkah Amanda Pt (AMAN)?
The net margin of Makmur Berkah Amanda Pt is 24.5% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Makmur Berkah Amanda Pt (AMAN)?
The return on equity (ROE) of Makmur Berkah Amanda Pt is 5.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Makmur Berkah Amanda Pt (AMAN)?
On an EBIT basis the return on assets of Makmur Berkah Amanda Pt is 5.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Makmur Berkah Amanda Pt (AMAN)?
The operating margin of Makmur Berkah Amanda Pt is 33.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Makmur Berkah Amanda Pt (AMAN)?
Revenue at Makmur Berkah Amanda Pt is growing −9.7% versus a year earlier (3y avg +19.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Makmur Berkah Amanda Pt (AMAN)?
Earnings per share at Makmur Berkah Amanda Pt are growing −43.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Makmur Berkah Amanda Pt (AMAN) generate?
The free cash flow of Makmur Berkah Amanda Pt is −97.7B IDR (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Makmur Berkah Amanda Pt (AMAN) carry?
The net debt of Makmur Berkah Amanda Pt is 323B IDR (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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